During the Monsoon Rajya Sabha
session Union Minister Nitin Gadkari said the Government has allocated a total Gross Budgetary support of Rs 46,834 Cr including cess and toll remittance for
2016-17 for the Road, Transport and Highways Ministry. The minister also said
that there is a proposal to spend around Rs 7 Lac Cr to develop National
Highways of around 50,000 kilometers in the next 5 years.
The total budget of Rs. 7 Lac Cr
will be divided in a span of 5 years and money will be allocated to Road,
Transport and Highways Ministry on project to project basis.
This announcement has again
confirmed the confidence of transport & construction business owners in the
Central Government. The announcement first came during the presentation of
Union Budget by the Finance Minister Mr. Arun Jaitley and since then we have
seen a good demand for both old & new commercial vehicles &
construction equipment in the country.
Both transport business &
construction equipment business owners are now rushing towards buying all new
fleet of vehicles & equipment to gain a leading edge towards acquiring the
tenders released by government.
Meanwhile Shriram Automall, INDIA’S
LARGEST PLATFORM FOR EXCHANGE OF USED VEHICLES & EQUIPMENT in an organized
manner is also receiving good demand for used commercial vehicles &
pre-owned construction equipment.
While analyzing the situation Mr.
Sameer Malhotra, CEO SAMIL said “the
announcement of this huge investment towards construction of National Highways
came as a breath of fresh air to this sluggish segment. We at SAMIL are
witnessing good footfall of customers interested in used commercial vehicle
& construction equipment.”
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